Examples of New CEC Common Equity Buyback in a sentence
Any modifications to the New CEC Common Equity Buyback that adversely impacts CEOC’s or CEC’s ability to provide the treatment of, and the identical economic recoveries available to, the Holders of Secured First Lien Notes Claims or Prepetition Credit Agreement Claims require the consent of the Requisite Consenting Bond Creditors or the Requisite Consenting Bank Creditors, respectively.
The percentages of New CEC Common Equity issued pursuant to the Plan will take into account any dilution that would otherwise occur based on the potential conversion of New CEC Convertible Notes to New CEC Common Equity but will not take into account the New CEC Common Equity Buyback.
To the extent the Debtors determine in good faith that the New CEC Common Equity Buyback would have negative consequences with respect to the tax treatment of the Spin Structure, the Debtors may modify the New CEC Common Equity Buyback solely in a manner necessary to avoid such negative consequences only if the Second Priority Noteholders Committee has given its written consent.
To the extent the Debtors determine in good faith that the New CEC Common Equity Buyback would have negative consequences with respect to the tax treatment of the Spin Structure, the Debtors may modify the New CEC Common Equity Buyback solely in a manner necessary to avoid such negative consequences only if the Second Priority Noteholders Committee has given its written consent, subject to the terms and conditions set forth in the Plan.
After the conclusion of the Election Period, Allowed Prepetition Credit Agreement Claims as to which the PropCo Equity Election has been exercised and/or as to which the Holder has elected to participate in the New CEC Common Equity Buyback cannot be transferred, except as described in the following sentence.
Pursuant to the Plan and these Buyback Election Procedures, however, each such Holder has the right to participate in the New CEC Common Equity Buyback to the extent set forth herein and in the Plan (collectively, the “Election Participants”).
Pursuant to the Plan and these Election Procedures, however, each such Holder has the right to participate in the New CEC Common Equity Buyback, as and to the extent set forth herein.
Each Holder of an Allowed Prepetition Credit Agreement Claim intending to exercise its PropCo Equity Election and/or participate in the New CEC Common Equity Buyback (to the extent available) must affirmatively make a binding election to do so by executing a properly completed First Lien Bank Election Form and timely returning the First Lien Bank Election Form to Prime Clerk by first class mail, overnight courier, personal delivery, or email.
The Election Participants are receiving, as applicable, the following forms (collectively, the “Election Forms”): • Each Holder of an Allowed Prepetition Credit Agreement Claim will receive a form (a “First Lien Bank Election Form”) to exercise such Holder’s PropCo Equity Election and to participate in the New CEC Common Equity Buyback.
Step Three is the last step of the New CEC Common Equity Buyback applicable to the distributions under the Plan available to the Holders of Senior Unsecured Notes Claims in their capacity as such.